The decline in wholesale prices indicates a further downward trend in consumer inflation.
The wholesale price index declined 0.92% in April. That compares with an expansion of 15.38% in April last year and 1.34% in March this year. WPI last entered negative territory in July 2020 during the height of the global lockdown aimed at curbing the spread of the coronavirus.
Data released on Friday showed retail inflation slowed to an 18-month low in April, remaining comfortably below the Reserve Bank of India’s upper tolerance limit for the second consecutive month, driven by a decline in food prices. Retail inflation eased to 4.7% in April from 5.66% in the preceding month.
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